WASHINGTON (dpa-AFX) - CBRE Group, Inc. (CBRE), a real estate company, said on Tuesday that it has acquired Pearce Services, LLC, a provider of advanced technical services for digital and power infrastructure, from New Mountain Capital for an initial $1.2 billion in cash.
The Group will also pay up to $115 million, if Pearce meets certain performance thresholds in 2027.
The acquisition is expected to add to CBRE's core earnings per share immediately.
Bob Sulentic, CEO of CBRE Group, said: 'This acquisition complements our large and growing presence in digital and power infrastructure. It also opens sizable new growth avenues for CBRE in markets where the need for Pearce's services is growing rapidly.'
For 2026, Pearce is projected to report EBITDA of over $90 million, with revenue of more than $660 million.
Founded in 1998, Pearce provides design engineering, maintenance, and repair services for blue-chip clients in North America.
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